What is another word for stakeholder pension?
11 synonyms found
[ stˈe͡ɪkhə͡ʊldə pˈɛnʃən], [ stˈeɪkhəʊldə pˈɛnʃən], [ s_t_ˈeɪ_k_h_əʊ_l_d_ə p_ˈɛ_n_ʃ_ə_n]
Stakeholder pensions are financial products that are designed to allow individuals to save for retirement, particularly those without access to a workplace pension scheme. However, there are a number of alternative phrases that can be used to describe these types of pensions. For example, some people refer to them as personal pensions, individual pensions, or simply retirement savings plans. Other potential synonyms include self-invested personal pensions (SIPPs), money purchase pensions, or occupational pensions. Regardless of the specific terminology used, the key feature of a stakeholder pension is that it allows people to build up a retirement fund through regular contributions, with the aim of providing financial security in later life.